Mining News
Amur Minerals (LON:AMC) (AMC LN, 8.48p, ? 3.9%) has released exploration results for the Chorney Ispelene pyroxenite dyke containing nickel and copper mineralisation, part of its Kun-Mania project. Chorney Ispelene has now been identified as the longest exploration target defined by the Company to date at 6km. Rock chip samples contained encouraging grades of up to 0.9% Ni and 0.4% Cu in the central and eastern parts of the dyke where the better mineralisation has been observed. Exploration work planned for 2012 includes limited trenching and structural drilling to enhance the Company?s geological understanding of the structure.
Petra Diamonds (LON:PDL) (PDL LN, 166.5p, ? 3.3%) has released an exploration update for kimberlite KX36 at its Kukama East project, Botswana. Results have been returned from the drilling and microdiamond sampling campaign carried out in 2011. Five holes were drilled for 1,373m and a total of 250 diamonds recovered from 403.9kg of kimberlite. These collectively weighed 0.756 carats and the largest recovered diamond weighed 0.393 carats. Analysis has indicated an initial diamond grade of between 75 to 180 carats per hundred tonne and modelling suggests the total kimberlite potential tonnage lies in the region of 30Mt, with the deposit remaining open ended at depth. The next step for the Company in April is to conduct large diameter drilling for bulk sampling.
Stratex International (LON:STI) (BUY, 15p) (STI LN, 8.5p, ? 1.5%) has issued an update for its exploration activities in Ethiopia and Djibouti in East Africa. At Shehagne, a 1,000m drill programme has been finished, completing its 60% earn-in of the project. With good intersections and further mineralised zones identified at surface, Stratex and 40% partner Centamin Egypt are now discussing the next stage of exploration, which may include an IP survey to identify further mineralisation along strike prior to further drilling. At Blackrock, Stratex?s 100% owned epithermal project in Ethiopia, the company has overcome initial logistical issues to complete 50% of the 5,000m drill programme and identified new mineralisation and blind veins hidden beneath gravel cover. Finally at the Afar Joint Venture with Thani Ashanti, a ground magnetic survey was recently completed over the Megenta epithermal gold project defining further structures and a follow up airborne magnetic survey is planned pending relevant permissions. Outside the existing license areas…
